Portfolios of the Poor: How the World’s Poor Live on $2 a Day

“…living on under two dollars a day requires unrelenting vigilance in cashflow management  (AND) —strategies to cope with the irregularities of in­come….” Daryl Collins, Jonathan Morduch, Stuart Rutherford & Orlanda Ruthven

The first chapter is free and is an interesting story on how the world’s poor make it work. There is also a National Public Radio interview.

I remember having conversations with my guide while visiting Central America.  His goal was to earn $5 (United States) a week.  That was enough money to feed himself, clothe himself, and send money home to his parents.  He was saving, too.  His hope was to purchase a boat with a motor so he could transport people (like a taxi) from one part of the coast to another.

As you may imagine, my conversations with him really helped me put a number of things in perspective.

Thank you http://www.marginalrevolution.com for the pointer to this book.

http://press.princeton.edu/titles/8884.html

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About Christopher Hessenflow

Christopher Hessenflow is a financial planner in the Chicago area. He works with all sorts of people who are much more interesting than he is. He enjoys his career which lends him time to think and, sometimes, be creative. Chip was born bald.
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